CPI up 0.3 percent in September quarter

CPI up 0.3 percent in September quarter

16 October 2015

The consumers price index (CPI) rose 0.3 percent in the September 2015 quarter, Statistics New Zealand said today. Higher housing-related prices, and seasonally higher vegetable and package holiday prices, were partly countered by lower vehicle relicensing fees. After adjusting for seasonal effects, the CPI rose 0.1 percent.

“The main upward contribution came from housing-related prices, which increased 1.2 percent,” prices senior manager Chris Pike said. "This was mostly influenced by higher prices for local authority rates, new houses excluding land, and housing rentals."

Vegetable prices were up 14 percent in the September 2015 quarter and package holiday prices were up 7.5 percent. After adjusting for seasonal effects, vegetable prices fell 1.7 percent, while package holidays rose 3.0 percent.

Prices for tradable goods and services rose 0.7 percent, with the weaker New Zealand dollar influencing prices for overseas package holidays and petrol. Non-tradable goods and services showed no overall change, as housing-related price rises were offset by lower vehicle relicensing fees and increased subsidies for GP visits for children.

Annual prices increase 0.4 percent

The CPI increased 0.4 percent in the year to the September 2015 quarter, following a 0.4 percent increase in the year to the June 2015 quarter.

Housing and household utility prices were up 2.7 percent in the year, with higher prices for newly built houses excluding land (up 5.5 percent), housing rentals (up 2.3 percent), and local authority rates (up 5.9 percent). "The annual increase was influenced by housing-related prices, particularly in Auckland," Mr Pike said. "Auckland prices for new houses excluding land were up 8.5 percent, and housing rentals and rates also increased by more than the national average."

The CPI measures the rate of price change of goods and services purchased by New Zealand households.

For more information about these statistics:
• Visit Consumers Price Index: September 2015 quarter

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